PAN AMERICAN SILVER sells Peruvian properties to Barrick Gold for $3.65 million
29 June 2004 - 10:24AM
PR Newswire (US)
PAN AMERICAN SILVER sells Peruvian properties to Barrick Gold for
$3.65 million VANCOUVER, June 28 /PRNewswire-FirstCall/ -- PAN
AMERICAN SILVER CORP. (NASDAQ: PAAS; TSX: PAA) announced today it
has concluded the sale of a package of surface properties and
mineral rights in the vicinity of its Quiruvilca mine in Peru to a
subsidiary of Barrick Gold Corporation for US$3.65 million. The
package includes lands surplus to the needs of the Quiruvilca mine
and does not effect the mine's operation. The proceeds from the
sale will be applied over several years to the mine's costs for
concurrent reclamation. For Further Information Contact: Brenda
Radies, VP Corporate Relations (604) 684-1175
http://www.panamericansilver.com/ CAUTIONARY NOTE Some of the
statements in this news release are forward-looking statements and
as such are based on an assumed set of economic conditions and
courses of action. These include estimates of future production
levels, expectations regarding mine production costs, expected
trends in mineral prices and statements that describe Pan
American's future plans, objectives or goals. There is a
significant risk that actual results will vary, perhaps materially,
from results projected depending on such factors as changes in
general economic conditions and financial markets, changes in
prices for silver and other metals, technological and operational
hazards in Pan American's mining and mine development activities,
uncertainties inherent in the calculation of mineral reserves,
mineral resources and metal recoveries, the timing and availability
of financing, governmental and other approvals, political unrest or
instability in countries where Pan American is active, labor
relations and other risk factors listed from time to time in Pan
American's Form 40-F. DATASOURCE: Pan American Silver Corp.
CONTACT: Brenda Radies, VP Corporate Relations, (604) 684-1175,
http://www.panamericansilver.com/
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